Exhibit 10(v)(b)
AMENDMENT TO STOCK OPTION AGREEMENT
On September 21, 0000, Xxx Xx. Xxxxxxxx Xxxxxx Corporation (the "Corporation") entered into
a Restated Stock Option Agreement (the "Stock Option Agreement") with Xxxx X. Xxxxx ("Xxxxx")
pursuant to which Xxxxx was granted options to purchase an aggregate of 15,000 shares of common
stock, $1.00 par value, of the Corporation for $3.00 per share over a period of five (5) years. The
Board of Directors and Stockholders of the Corporation approved an amendment to the Stock Option
Agreement on July 6, 1992 and August 28, 1992, respectively, the effect of which was to extend the
option exercise period for five (5) additional years. The Board of Directors approved further
amendments to the Stock Option Agreement on September 8, 1997, the effect of which was to extend the
option exercise period for five (5) additional years. The Board of Directors approved further
amendments to the Stock Option Agreement on August 30, 2002, and extended the options through
September 21, 2007. Specifically, Section 7 of the Stock Option Agreement is hereby further amended
by substituting the words "twentieth anniversary" for the words "fifteenth anniversary," and Section
3 is hereby further amended by substituting the words "twenty years" for "fifteen years."
The Stock Option Agreement and the options granted pursuant thereto are hereby specifically
referred to and incorporated as a part hereof and in all respects other than as specifically
modified herein, the terms and conditions thereof shall continue in full force and effect.
This Amendment is executed on this 20th day of September, 2002.
THE ST. XXXXXXXX SEAWAY CORPORATION
By: /s/ Xxxxxx X. Nir
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Xxxxxx X. Nir
President and Treasurer
Accepted as of September 20, 2002
/s/ Xxxx X. Xxxxx
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Xxxx X. Xxxxx
